topic Re: 15 point decline in Credit Cards

15 point decline

pdog661 — Tue, 01 Jan 2013 18:15:05 GMT

Well happy new year to me! HAHA

I mistakenly let 1.50 post to my BofA siggy card this month. 15 point drop. I believe this is validation to only let 1 card post a balance on your report for the best score. This certainly wasn't a UTL hit. I have a 60K total credit line, and less then 500 dollars currently reporting. This balance reporting reflects a change in UTL of 0.0025%.

Oh well Garden through 2013 so I guess it doesn't matter, but I am so close to my goal...... no just a little farther.

Happy new years to all.

Re: 15 point decline

Anonymous — Tue, 01 Jan 2013 18:49:30 GMT

All I can say is wow!

Can't believe an additional card reporting such a small balance impacted your score to that extent. This score game is unforgiving, LOL!

Re: 15 point decline

Revelate — Tue, 01 Jan 2013 21:11:39 GMT

@Anonymous wrote:
All I can say is wow!

Can't believe an additional card reporting such a small balance impacted your score to that extent. This score game is unforgiving, LOL!

When one is gold-plated (which the OP is), any even small smudge on one's credit report is a big hit. That said he's still north of 760 so in practical terms the change in score makes no difference in approvals on that count.

Edit: when I let 2 cards (more than half) report for me, the score difference is much smaller

Edit 2: awkward spelling.

Re: 15 point decline

Rhaeny — Tue, 01 Jan 2013 19:35:17 GMT

Yea same here....same util @ 14% but this time I have 5 cards reporting very small balances. Like $50 or less, one at $1100 and total balance relatively the same and score just tanked to 692. So from last month to this month was 4 more cards reporting (you know...xmas shopping) and it was a hit of 12 points. Oh well, score will pop back up next month. But your two cards at such a small amount is a little extreme though.

Good thing I know what I know now, otherwise I'd be a bit upset...but this is an easy fix for me

Re: 15 point decline

Anonymous — Tue, 01 Jan 2013 19:49:21 GMT

I got dinged pretty badly last month after forgetting to pay before the closing date. Can't really remember how ugly it was but things should be better in about three weeks when Amex, and 2 other cards report $0. Annoying because one of my monthly monitoring services literally hits just before USAA closing date and the payment never processes quickly enough. I need to put additional funds on it in advance or call and have the billing date changed.

Re: 15 point decline

HiLine — Thu, 03 Jan 2013 22:38:45 GMT

I think the decline was so big because you started off with such a high score. For the high-upper range, a small change in your credit profile can result in a big swing. When I got my second card reporting a balance, my score only dropped a few points.

Re: 15 point decline

android01 — Thu, 03 Jan 2013 22:49:31 GMT

I've found it ideal from a score perspective to leave a balance on one card resulting in utilization of <1%. There's rougly a 4-5 point drop if I let two or three cards report with total utilization still <1%. Where I get the biggest drop is from letting zero balances report with zero utilization - which results in a 10-12 point drop.

Re: 15 point decline

pdog661 — Fri, 04 Jan 2013 02:07:30 GMT

I agree with you. When I had 1 card reporting with a 1% UTL my score was 797.

Oh well.